Boston, MA 03\/17\/2014 (wallstreetpr) – JA Solar Holdings Co. Ltd (ADR) (NASDAQ:JASO)<\/b> is soaring in Monday trading session after reporting better than expected results for its fourth quarter that beat estimatesand saw it return to profitable ways. JA Solar has seen its stock rise by as much as 10% in intraday trading session. Net income for the fourth quarter came in at 23 million or 32 cents per diluted share compared to a net loss of $37.5 million reported for the same period last year.<\/p>\n
Stabilization in the pricing environment accompanied with favorable cost cutting measures have been cited as the main reason behind the company returning to profitable ways. The company\u2019s gross margin grew to over 15% in the quarter with the company generating a good amount of operating cash flow.<\/p>\n
Fourth quarter highlights<\/b><\/p>\n
JA Solar shipments for the quarter were up by 33% coming in at 665.5MWconsisting of 363.3 MW of modules and 302MW of cells compared to third quarter shipments of 500.2 MW. Net revenue for the quarter came in at $357.3 million up from a low of $290.5 million reported for the same quarter the prior year. Gross margins for the quarter came in at 15.5 compared to1.3% for the prior year.<\/p>\n
JA Solar was able to return into profitable ways in the fourth quarter registering an operating profit of $9.7 million compared to an operating profit of $5.2 million reported for the same quarter in 2012. Cash and cash equivalent for the quarter stood at $350.2 million up from $313.3 million at the end of the third quarter of the same financial year<\/p>\n
Operating cash flow for the quarter slightly dipped to $70.4 million compared to a high of $103 million for the third quarter. Non GAAP earnings per diluted share for the fourth quarter stood at $0.16 higher than a net loss of $0.37 per diluted share reported in the third quarter.<\/p>\n
Full year results<\/b><\/p>\n
Full year results grew by 21.7% from 1.7GW reported in 2012 to a high of 2.1 GW, net revenue for full year came in at $1.2 billion up from a low of $1.1 billion reported as of the end of 2012. JA Solar full year gross margin stood at 10.6% compared to a negative gross margin of 0.8% in 2012.<\/p>\n
JA Solar full year net loss dropped to a low of $70.5 million down from a high of $274.6 million reported as of close of business on Decmber31, 2012.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 03\/17\/2014 (wallstreetpr) – JA Solar Holdings Co. Ltd (ADR) (NASDAQ:JASO) is soaring in Monday trading session after reporting better than expected results for […]<\/p>\n","protected":false},"author":2,"featured_media":17426,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[4872,2591],"stock_ticker":[],"class_list":["post-17424","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-ja-solar-holdings-co-ltd-adr-nasdaqjaso","tag-nasdaqjaso","entry"],"acf":[],"yoast_head":"\n